Equities analysts forecast that Veritone Inc (NASDAQ:VERI) will report sales of $12.72 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Veritone’s earnings, with the lowest sales estimate coming in at $12.63 million and the highest estimate coming in at $12.81 million. Veritone posted sales of $7.55 million in the same quarter last year, which suggests a positive year-over-year growth rate of 68.5%. The firm is expected to issue its next earnings results on Monday, November 11th.
On average, analysts expect that Veritone will report full year sales of $50.67 million for the current year, with estimates ranging from $49.99 million to $51.28 million. For the next fiscal year, analysts anticipate that the business will report sales of $62.70 million, with estimates ranging from $58.64 million to $67.63 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Veritone.
Veritone (NASDAQ:VERI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.80) EPS for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.06. Veritone had a negative return on equity of 96.89% and a negative net margin of 155.58%. The company had revenue of $12.27 million during the quarter, compared to analysts’ expectations of $12.22 million. During the same quarter in the previous year, the firm earned ($0.88) EPS. Veritone’s revenue was up 194.4% on a year-over-year basis.
Shares of Veritone stock traded down $0.26 during trading on Friday, reaching $4.65. 15,722 shares of the company’s stock were exchanged, compared to its average volume of 458,884. Veritone has a 1-year low of $3.65 and a 1-year high of $11.44. The company has a market cap of $109.10 million, a P/E ratio of -1.34 and a beta of 1.29. The firm’s 50-day moving average price is $6.82 and its 200 day moving average price is $6.83.
In related news, insider Ryan Steelberg purchased 33,244 shares of Veritone stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $7.49 per share, for a total transaction of $248,997.56. Following the transaction, the insider now owns 30,671 shares of the company’s stock, valued at approximately $229,725.79. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard H. Taketa purchased 9,021 shares of Veritone stock in a transaction on Friday, June 14th. The stock was bought at an average price of $7.49 per share, for a total transaction of $67,567.29. Following the transaction, the director now directly owns 9,887 shares in the company, valued at approximately $74,053.63. The disclosure for this purchase can be found here. Insiders have purchased a total of 80,766 shares of company stock worth $666,085 in the last 90 days. 37.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new position in shares of Veritone in the second quarter worth $131,000. Vanguard Capital Wealth Advisors acquired a new position in shares of Veritone in the first quarter valued at $187,000. Parametric Portfolio Associates LLC raised its stake in shares of Veritone by 76.1% in the second quarter. Parametric Portfolio Associates LLC now owns 23,008 shares of the company’s stock valued at $192,000 after purchasing an additional 9,942 shares in the last quarter. Spark Investment Management LLC raised its stake in shares of Veritone by 17.4% in the first quarter. Spark Investment Management LLC now owns 45,427 shares of the company’s stock valued at $236,000 after purchasing an additional 6,727 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Veritone by 26.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 71,059 shares of the company’s stock valued at $270,000 after purchasing an additional 14,796 shares in the last quarter. Hedge funds and other institutional investors own 16.08% of the company’s stock.
Veritone Company Profile
Veritone, Inc provides artificial intelligence (AI) and computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that unlocks the power of cognitive computing to transform audio, video, and other unstructured data, as well as analyzes it in conjunction with structured data in an orchestrated and automated manner to generate actionable intelligence.
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